The Development Authority of Bryan County, in partnership with
TerraPointe, the real estate subsidiary of Rayonier (NYSE: RYN), held a
groundbreaking ceremony today for Belfast Commerce Centre. Lieutenant
Governor Casey Cagle and other state and local dignitaries were present
to commemorate the event.

The 1,100-acre industrial park, the largest rail-served site in the
Savannah market, is approved for 10.5 million square feet of industrial,
manufacturing, warehousing, distribution, office and commercial property.

“With the potential to create more than 7,500 new jobs, Belfast Commerce
Centre is an exciting economic development opportunity for the State of
Georgia,” said Lieutenant Governor Cagle, “We must continue to work
together to encourage business growth, attract capital investment, and
create high-wage jobs for Georgians.”

Belfast Commerce Centre has two miles of I-95 frontage, 1.5 miles of
frontage on the Riceboro/Southern Railroad Line, and direct access – 16
miles – to the Port of Savannah. It is an attractive location for major
manufacturers and other companies that can benefit from the site’s
location and transportation advantages. Further strengthening the site’s
marketability, the Federal Highway Administration recently approved a
proposed interchange at Belfast Keller Road that would provide direct
access to I-95.

“Today, Belfast Commerce Centre, Bryan County’s first rail-served
industrial park, is open for business and is ripe for significant
industrial growth,” stated F.J. “Josh” Fenn, executive director of the
Development Authority of Bryan County. “This will be an outstanding
compliment to our successful Interstate Centre. Bryan County can now
offer industrial sites on both I-16 and I-95, one of very few counties
in the country that can offer industrial parks on two different
interstates.”

As Georgia’s first recipient of a CSX Select Site designation, Belfast
Commerce Centre has been certified as development-ready. This
designation ensures the site has met a set of rigorous criteria and is
ready for rapid development, reducing risk for companies seeking to
expand or locate their operations there.

“Future industrial and commercial development in Bryan County will
broaden and diversify our tax base, reducing our reliance on residential
ad valorem taxes to fund local government services,” said Harold Fowler,
Mayor of the City of Richmond Hill.

“We are grateful for the strong support from federal, state and local
partners who have helped us reach this milestone on this important
economic development project,” said Paul Boynton, chairman, president,
and CEO of Rayonier, “I would like to especially thank our local
partners in Bryan County and the City of Richmond Hill for their
unyielding commitment to leverage the unique assets here at Belfast
Commerce Centre.”

About Development Authority of Bryan County:

The Development Authority of Bryan County Serves as the Economic
Development arm of The Bryan County Government and the Cities of
Pembroke and Richmond Hill.

Rayonier is a leading international forest products company with
three core businesses: Forest Resources, Real Estate and Performance
Fibers. The company owns, leases or manages 2.7 million acres of timber
and land in the United States and New Zealand. The company's holdings
include approximately 200,000 acres with residential and commercial
development potential along the Interstate 95 corridor between Savannah,
Ga., and Daytona Beach, Fla. Its Performance Fibers business is one of
the world's leading producers of high-value specialty cellulose fibers,
which are used in products such as filters, pharmaceuticals and LCD
screens. Approximately 45 percent of the company's sales are outside the
U.S. to customers in approximately 40 countries. Rayonier is structured
as a real estate investment trust. More information is available at www.rayonier.com.